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A Report to the Citizens of Texas
Sept. 1, 2007 – Aug. 31, 2008

Texas and the Future —
Challenges Ahead

State Budget

Budgeting for the 2010-11 biennium will present challenges to state lawmakers.

The Comptroller's Biennial Revenue Estimate includes an estimated $77.1 billion available for general purpose spending during the period, approximately $9.1 billion less than the 2008-09 biennium.

Water

The Comptroller's 2009 report, Liquid Assets: The State of Texas' Water Resources, examines Texas' current and future water resources, the practical and policy barriers facing local and statewide water planners and possible funding mechanisms that could be tapped to develop Texas' water resources. More than 46 million people could call Texas home by 2060, and failing to meet their water demands could cost Texans and businesses $98.4 billion.

Energy

Texas remains at the forefront of the nation's energy industry. The direction Texas takes in energy policy will help mark the path for the nation. Texas – and the rest of the world, for that matter – almost certainly will meet future energy demands using a wide variety of resources, and our state must be informed to ensure it remains well positioned to benefit from the increasing diversification of the nation's energy portfolio. This issue is covered in-depth in the Comptroller's 2008 Energy Report.

Texas Work Force

The Comptroller's December 2008 report, Texas Works, examines the changing Texas job market and the growing shortage of workers with the technical skills required for many of the state's fastest growing jobs. The report details the offerings of community and technical colleges to fill those educational needs, but also explores the fact that too many Texas high school students fail to pursue postsecondary education.

Economic Outlook

The following table provides key measures of the state's economic outlook. Gross State Product is a measure of the total value of goods and services produced in Texas. Nonfarm Employment represents the number of jobs in the economy, not including jobs relating to the farming industry.

Texas Economic Outlook for Fiscal 2009 through 2011
  2009 2010 2011
Gross State Product
(Billions, Current $)
1,245.9 1,280.9 1,354.2
Annual Percent Change in Gross State Product 4.2 2.8 5.7
Nonfarm Employment
(Thousands)
10,537.3 10,637.6 10,889.4
Annual Percent Change in Nonfarm Employment 0.0 1.0 2.4
Resident Population
(Thousands)
24,710.4 25,236.9 25,779.3
Annual Percent Change in Resident Population 1.8 2.1 2.1

 

 

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